Trump sets up stormy G20 with Putin snub

On sidelines of G20 PM Modi says terrorism and financial crimes are big threats

China said it remained hopeful of a deal and, after earlier indicating pessimism, Mr Trump said on Friday: "They want to and we'd like to".

India hopes to play a constructive role to help build a middle ground consensus among the world's major economies if the U.S. and China spar over a final statement of the G20 summit at Buenos Aires beginning Friday, said a senior government official.

He will press Chinese President Xi Jinping to avert the stepped-up tariffs by throwing open China's markets to United States competition and protecting foreign companies' intellectual property.

The Journal report, citing unnamed officials on both sides of the Pacific, said it was unclear whether the meeting this weekend between U.S. President Donald Trump and Chinese President Xi Jinping in Buenos Aires would produce any agreement.

Trump has slapped punishing tariffs on more than $250 billion in Chinese imports so far this year, demanding that Beijing end allegedly unfair trade practices and reverse industrial policies criticized by other major economies.

The US has hit a total of $US250bn of Chinese goods with tariffs since July, and China has retaliated by imposing duties on $US110bn of US products. Prime Minister Narendra Modi is the second most searched leader on the search engine after US President Donald Trump.

The administration has also signaled its readiness to expand tariffs to cover the entire remaining portion of Chinese imports to the USA, or an additional US$265 billion worth of goods.

He is supposed to meet with Chinese President Xi Jingping Saturday for dinner, and analysts expect the President to discuss the current trade standoff with Xi.

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In recent months the United States and China have been engaged in rather heated negotiations regarding worldwide trade deals, and the U.S. has leveraged tariffs in an attempt to gain the upper hand.

(AAP) Prime Minister Scott Morrison attends the G20 Summit in Buenos Aires, Argentina.

U.S. President Donald Trump will meet his Turkish counterpart Recep Tayyip Erdoğan during the G20 summit in Argentina, Trump's top security aide said November 27.

"China will make efforts to further open its door to the outside world", Xi told the Spanish Senate.

Even if Trump's import tax went up to 25 percent, as the president has threatened, moving iPhone assembly to USA shores could cost much more.

But, at the same time, he cautioned the US was prepared to forge ahead with the new tariffs in the belief China would fold first. "We have an opportunity to extend that optimism, break some new ground", Kudlow said.

The U.S., Canada and Mexico are expected to sign the new United States-Mexico-Canada Agreement that is replacing NAFTA during a ceremony Friday. Merkel's office said Friday that she and a small delegation, including the finance minister, took a different government plane to Madrid and then boarded a commercial flight to Buenos Aires.

The leaders, who know each other personally from their days in the business world, greeted each other like old friends at Macri's executive mansion, Casa Rosada, but technical difficulties threatened to throw cold water on the warm meeting.

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